Aterian, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Aterian, Inc. (Nasdaq: ATER) announced the granting of restricted stock awards totaling 190,000 shares to two new employees. Awarded under the Aterian 2022 Inducement Equity Incentive Plan, these shares serve as an inducement for employment as per Nasdaq Listing Rule 5635(c)(4). The shares will vest over three years, with one-third vesting after the first year and the remainder vesting quarterly, contingent upon the employee's continued service. This initiative highlights Aterian's commitment to attracting talent through equity compensation.

Positive

• Granting of 190,000 restricted stock awards to new employees strengthens talent acquisition strategy.
• Awards are designed to incentivize employee retention through a structured vesting schedule.

Negative

• None.

NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian”), today announced that it has granted restricted stock awards with respect to 190,000 shares of common stock to two new employees. These inducement awards were granted pursuant to the Aterian 2022 Inducement Equity Incentive Plan and granted as an inducement material to the employees’ employment with Aterian in accordance with Nasdaq Listing Rule 5635(c)(4). The awards will vest over three years, with 33.33% of the total number of shares subject to the award vesting on the one-year anniversary of the date of the recipient’s commencement of employment with Aterian and the balance vesting in equal amounts on a quarterly basis thereafter, subject in each case to the recipient’s continued service to Aterian on each vesting date. Aterian is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).

About Aterian, Inc.

Aterian, Inc. (Nasdaq: ATER) is a leading technology-enabled consumer product platform that builds, acquires, and partners with best-in-class e-commerce brands by harnessing proprietary software and an agile supply chain to create top selling consumer products. The Company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world's largest online marketplaces with a focus on Amazon, Shopify and Walmart. Aterian has thousands of SKUs across its many owned and operated brands and sells products in multiple categories, including home and kitchen appliances, health and wellness, beauty and consumer electronics.

Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding Aterian’s employees and equity plans. These forward-looking statements are based upon information that is currently available to Aterian, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including risks associated with Aterian’s employees and equity plans, and additional risks set forth in Aterian’s filings with the Securities and Exchange Commission. Aterian expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.

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FAQ

What are the recent stock awards granted by Aterian (ATER)?

Aterian announced the granting of 190,000 restricted stock awards to two new employees as part of its inducement equity plan.

How long will the stock awards vest for Aterian employees?

The restricted stock awards will vest over three years, with 33.33% vesting after one year and the rest vesting quarterly.

Which rule governs the stock awards granted by Aterian?

The stock awards were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the purpose of the restricted stock awards by Aterian?

These awards are meant to serve as an inducement for employment and to retain new employees.